CastleKnight Management LP Has $5.20 Million Position in Nomad Foods Limited $NOMD

CastleKnight Management LP raised its holdings in Nomad Foods Limited (NYSE:NOMD) by 117.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 416,000 shares of the company’s stock after buying an additional 225,100 shares during the period. CastleKnight Management LP owned 0.27% of Nomad Foods worth $5,204,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Ruffer LLP bought a new position in shares of Nomad Foods in the 4th quarter valued at about $26,823,000. Lombard Odier Asset Management Europe Ltd acquired a new position in shares of Nomad Foods during the 4th quarter worth about $11,147,000. Brigade Capital Management LP acquired a new position in shares of Nomad Foods during the 4th quarter worth about $10,946,000. Balyasny Asset Management L.P. acquired a new position in shares of Nomad Foods during the 4th quarter worth about $9,722,000. Finally, Royce & Associates LP increased its stake in shares of Nomad Foods by 45.4% during the 3rd quarter. Royce & Associates LP now owns 2,451,806 shares of the company’s stock worth $32,241,000 after purchasing an additional 765,690 shares during the last quarter. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Zacks Research upgraded shares of Nomad Foods from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $10.00 price objective (down from $15.00) on shares of Nomad Foods in a research note on Monday, March 30th. Barclays lowered their price objective on shares of Nomad Foods from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 14th. Mizuho lowered their price objective on shares of Nomad Foods from $15.00 to $13.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 3rd. Finally, Weiss Ratings lowered shares of Nomad Foods from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 26th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Nomad Foods has an average rating of “Hold” and a consensus target price of $12.50.

Nomad Foods Stock Performance

Shares of NOMD stock opened at $10.05 on Thursday. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 9.76 and a beta of 0.70. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.66 and a current ratio of 1.06. The company has a 50-day simple moving average of $9.89 and a 200 day simple moving average of $11.04. Nomad Foods Limited has a 52 week low of $8.99 and a 52 week high of $18.33.

Nomad Foods (NYSE:NOMD) last announced its earnings results on Thursday, May 7th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.21 by $0.06. The business had revenue of $827.87 million during the quarter, compared to the consensus estimate of $804.00 million. Nomad Foods had a net margin of 4.43% and a return on equity of 9.05%. Nomad Foods’s revenue was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.21 EPS. Nomad Foods has set its FY 2026 guidance at 1.720-1.900 EPS. On average, sell-side analysts predict that Nomad Foods Limited will post 1.75 earnings per share for the current year.

Nomad Foods Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Tuesday, May 12th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.68 annualized dividend and a dividend yield of 6.8%. Nomad Foods’s payout ratio is presently 66.02%.

Insider Buying and Selling

In related news, Director Ian G. H. Ashken bought 100,000 shares of Nomad Foods stock in a transaction that occurred on Wednesday, May 13th. The stock was acquired at an average price of $9.13 per share, with a total value of $913,000.00. Following the acquisition, the director owned 116,916 shares of the company’s stock, valued at approximately $1,067,443.08. This represents a 591.16% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ruben Baldew bought 14,731 shares of Nomad Foods stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average cost of $9.71 per share, with a total value of $143,038.01. Following the acquisition, the chief financial officer directly owned 338,882 shares in the company, valued at $3,290,544.22. This trade represents a 4.54% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders purchased 264,731 shares of company stock valued at $2,524,538. Company insiders own 17.27% of the company’s stock.

Nomad Foods Profile

Nomad Foods Limited is a leading frozen foods company headquartered in the United Kingdom, operating under the ticker symbol NOMD on the New York Stock Exchange. The company’s portfolio comprises well-known consumer brands such as Birds Eye, iglo, Findus, Goodfella’s and Aunt Bessie’s, covering a wide range of categories including vegetables, seafood, ready meals, pizzas and desserts. Nomad Foods focuses on delivering convenient, high-quality frozen products designed to meet evolving consumer preferences for taste, nutrition and ease of preparation.

Formed in 2015 through the acquisition of Iglo Group by investment firms Permira and Goldman Sachs Asset Management, Nomad Foods was created with the strategy of building Europe’s largest frozen foods platform.